• Unable to pay loan

sir, i have taken credit card & vehicle loan from icici & hdfc bank and i am unable to pay the loan. bank are threatening me in terms of legal notice & police cases. sir presently my condition is very bad & i am not in position to pay the loan. please help me what should i do.
Asked 3 years ago in Civil Law from Lucknow, Uttar Pradesh
if you are unable to pay vehicle loan let bank take over vehicle and auction it .   

as far as credit card loan is concerned ask for rescheduling installments
Ajay Sethi
Advocate, Mumbai
29603 Answers
1614 Consultations

5.0 on 5.0

1. Bank may take possession of vehicle and auction it at a throwaway price to recover the amount of loan along with interest. This cannot be successfully preempted. 

3. For credit car you may request the bank to reschedule amount in easy installments.
Ashish Davessar
Advocate, Jaipur
20072 Answers
529 Consultations

5.0 on 5.0

if you are unable to pay vehicle loan let bank take over vehicle and auction it .
Rajeev Bari
Advocate, New Delhi
1506 Answers
92 Consultations

3.5 on 5.0

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